Exorbitant Privilege PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Exorbitant Privilege PDF full book. Access full book title Exorbitant Privilege by Barry Eichengreen. Download full books in PDF and EPUB format.
Author: Barry Eichengreen
Publisher: Oxford University Press
ISBN: 0199753784
Category : Business & Economics
Languages : en
Pages : 224
Get Book Here
Book Description
It is, as a critic of U.S.
Author: Barry Eichengreen
Publisher: Oxford University Press
ISBN: 0199753784
Category : Business & Economics
Languages : en
Pages : 224
Get Book Here
Book Description
It is, as a critic of U.S.
Author: Eswar S. Prasad
Publisher: Princeton University Press
ISBN: 0691168520
Category : Business & Economics
Languages : en
Pages : 438
Get Book Here
Book Description
Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
Author: Barry Eichengreen
Publisher: Princeton University Press
ISBN: 0691191867
Category : Business & Economics
Languages : en
Pages : 270
Get Book Here
Book Description
A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
Author: Eric Helleiner
Publisher: Cornell University Press
ISBN: 0801457491
Category : Business & Economics
Languages : en
Pages : 267
Get Book Here
Book Description
For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy. What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and it outlines a variety of future scenarios and the possible political implications for the United States and the world.
Author: Robert Brenner
Publisher: Verso Books
ISBN: 1789609135
Category : Business & Economics
Languages : en
Pages : 304
Get Book Here
Book Description
A sustained period of significant growth in the US, however, seemed to save the day against all the odds. So impressive was the surface appearance of this rescue mission that all manner of commentators proclaimed-once again-that a 'new economy' or 'new paradigm' of unlimited and harmonious growth had been forged. Today, as recession looms, the babble about Internet start-ups is exposed as vapid. Yet the pundits are no nearer an understanding of how or why the boom turned into a bubble, or why the bubble has burst. In this crisp and forensic book, Robert Brenner demonstrates that the boom was always a fragile phenomenon-buoyed up by absurd levels of debt and stock-market overvaluation-which never broke free from the fundamental malady of overcapacity and overproduction which continues to afflict the global economy. Carefully dismantling the myths and hype that surround the US boom in terms of profitability, investment, and productivity, Brenner restores the properly international context to the process. He portrays the 'zero-sum' character of the American success, which presupposed the relative weakness of its main German and Japanese competitors: a strategy that has laid huge obstacles in the path of a 'soft landing' to end the current phase of growth. A substantial new Postscript provides and up-to-date analysis of the Bush economic debacle-the crisis of manufacturing, the telecom bust, the record twin deficits, plummeting employment, and the real estate bubble.
Author: C. Fred Bergsten
Publisher: M.E. Sharpe
ISBN: 9780873326001
Category : Business & Economics
Languages : en
Pages : 620
Get Book Here
Book Description
An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.
Author: John F. Bilson
Publisher: University of Chicago Press
ISBN: 0226050998
Category : Business & Economics
Languages : en
Pages : 542
Get Book Here
Book Description
This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Author: Adrian Nicola Carello
Publisher: University of Delaware Press
ISBN: 9780874133424
Category : Business & Economics
Languages : en
Pages : 228
Get Book Here
Book Description
This study relates the underdevelopment of southern Italy's Mezzogiorno to Italy's participation in the European Economic Community. In the tracing of its origins and evolution, the Mezzogiomo's underdevelopment is shown to have been intensified under Italy's current ruling class.
Author: Charles S. Maier
Publisher: Harvard University Press
ISBN: 0674293185
Category : History
Languages : en
Pages : 529
Get Book Here
Book Description
A new and original history of the forces that shaped the twentieth and twenty-first centuries. We thought we knew the story of the twentieth century. For many in the West, after the two world conflicts and the long cold war, the verdict was clear: democratic values had prevailed over dictatorship. But if the twentieth century meant the triumph of liberalism, as many intellectuals proclaimed, why have the era’s darker impulses—ethnic nationalism, racist violence, and populist authoritarianism—revived? The Project-State and Its Rivals offers a radical alternative interpretation that takes us from the transforming challenges of the world wars to our own time. Instead of the traditional narrative of domestic politics and international relations, Charles S. Maier looks to the political and economic impulses that propelled societies through a century when territorial states and transnational forces both claimed power, engaging sometimes as rivals and sometimes as allies. Maier focuses on recurring institutional constellations: project-states including both democracies and dictatorships that sought not just to retain power but to transform their societies; new forms of imperial domination; global networks of finance; and the international associations, foundations, and NGOs that tried to shape public life through allegedly apolitical appeals to science and ethics. In this account, which draws on the author’s studies over half a century, Maier invites a rethinking of the long twentieth century. His history of state entanglements with capital, the decline of public projects, and the fragility of governance explains the fraying of our own civic culture—but also allows hope for its recovery.
Author: Benjamin J. Cohen
Publisher: Princeton University Press
ISBN: 0691181063
Category : Business & Economics
Languages : en
Pages : 302
Get Book Here
Book Description
Why the dollar will remain the world's most powerful currency Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world’s dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America’s greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy. Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today’s top currencies. The greenback, he contends, is the "indispensable currency"—the one that the world can’t do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics. Contrary to today’s growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come.
